Cyber Insurance – why you need it.

Australian businesses are under cyber-attack daily. Whilst mostly protected by IT security systems, they are all too often breached.

The impact is akin to a digital fire with devastating costs that pile up, including reputational damage, make-good costs, business interruption costs, and the mandatory reporting of data breaches.

With Director’s facing everyday cyber security challenges, and the nature of businesses and their dependancy on technology, Cyber Insurance is there to protect you against claims made against your business, as well as the costs from a cyber-attack on your own business, or an omission by a member of your organisation.

What Can You Claim?

Protecting you in a fast moving and complicated world.

Cyber Insurance protects you against third party claims for:

  • Data privacy breaches – where their data irrespective of kind – personal records, financial records, medical records – has been exposed to others whether by omission or a cyber-crime. More than 60% are due to human error.
  • Cyber Liability – third party claims arising from material published in a digital environment whether that is email, intranet, website or social media platform.

Covers for the following losses your business might incur:

  • Remedying the breach – the costs involved in making good to customers and associated expenses (such as marketing).
  • Business Interruption – compensation for lost revenue arising from the cyber attack.
  • Cyber Extortion – payment of ransom demands and specialist consultants to unravel the mess.
  • Hacker Damage – costs to repair, replace or restore systems and data affected by the attack.

Fundamentally any business using technology that holds data not completely closed to the outside world. So, most of us.

If your business holds customer data, business records, financial information on any technology platform that can be accessed externally, this is a significant risk. It is worth finding out if you are exposed.

Why Work With Oracle?

We are experts in protecting businesses from all their potential risks and liabilities. Your protection is based in our 5 fundamental principles.

  • Understand – it is important to understand your business in all its different facets, so we can identify your potential exposures and risks. Many of which you are probably unaware.
  • Advise – from there we can advise you about where you are carrying all the risk, and what insurance you should consider. Then, you can make an informed choice.
  • Implement – insurance products best for your business are notoriously wordy and complex. We sift through and decipher them to find the product that best suits your needs and protects you.
  • Advocate – when it comes to claim time, we are your expert advocate with the insurance companies. With a 96% success rate, we you get back on your feet fast.
  • Ease – insurance can be a frustrating grudge purchase. At Oracle Group we make it easy, so you get back to running your business with peace of mind, knowing you are protected.

Request A Quote

Please fill out the form below with your query, and a staff member will get back to shortly, or give us a call on 1300 029 510